Securities Class Action Filed Against Accuride Corporation
Last Updated on May 8, 2018
Jones v. Accuride Corporation et al
Filed: October 20, 2016 ◆§ 3:16-cv-00210-RLY-MPB
Stockholders have filed a class action against Accuride Corporation and its board of directors alleging violations of the Securities Exchange Act of 1934.
Stockholders have filed a class action against Accuride Corporation and its board of directors alleging violations of the Securities Exchange Act of 1934. Filed in Indiana, the suit stems from a September 2016 transaction from which Accuride would be acquired by New York private equity firm Crestview Partners LLC. Pursuant to the terms of the transaction, Accuride then merged with Armor Merge Sub Corp. These events, plaintiffs allege, are the product of a “flawed process” that deprives Accuride’s stockholders of participating in the company’s long-term business prospects. Furthermore, plaintiffs say the defendants lied to the U.S. Securities and Exchange Commission (SEC) by failing to adequately disclose all material information related to the merger.
The proposed class seeks to cover all public Accuride stockholders.
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